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Commercial Litigation Funding

Litigation Funding Assessment

The main ingredients of a fundable claim are that:

  • The claim should have good prospects of success against a solvent defendant; and
  • The claim value should be for a sufficient multiple of the likely costs. For example the claim should normally be worth at least 6 times the costs of pursuing it all the way through trial. There are no upper limits in terms of costs or the quantum of damages.

 

Breaking this down a little further, Calunius Capital will assess potentially investable cases on a variety of factors, principally:

  • Merits – What are the strengths and weaknesses of the legal arguments and of the supporting evidence?
  • Quantum – What level of damages is likely to be achieved on success at trial or on settlement?
  • Recoverability – Is the Defendant good for the money?
  • Time – How long will it take to achieve resolution, including the risk of appeal?
  • Costs – How much will the Claimant’s costs turn out to be; what is the risk of over-run; how will the adverse costs risk be dealt with?
  • Variability – How likely are each of the above factors to change?

 

In principle, we work with the case materials that are available. Ideally, in order properly to assess the risk, we like to see and evaluate the following items before a decision can be taken:

  • The principal documents (contracts, correspondence etc.) relied on in the case;
  • Any witness statements that have been prepared;
  • Any Court documents that have been filed;
  • A written legal opinion dealing positively with the merits;
  • A written, legally coherent justification of the quantum sought in the claim;
  • A written estimate of the costs to be incurred in pursuing the claim.

 

However we do recognise that, depending on the stage the preparations of the case have reached, some of these documents might not be immediately available. In particular we do not necessarily require a Counsel’s Opinion and the Calunius Fund will pay for the preparation of a formal legal review in appropriate cases.

 

Back to Litigation Funding

 

 

Calunius news and media

The End of the Investment Period of Calunius Litigation Risk Fund 3

3 December 2018

The Members of Calunius Capital LLP (“Calunius”) wish to announce that; (i) The investment period of Calunius Litigation Risk Fund 3 has now ended, the commitment of investors’ capital having been completed in a portfolio of carefully selected cases. No new investments will now be made from that Fund; (ii) The partners of Calunius are not seeking to raise another fund at this stage; (iii) This decision follows several recent favourable settlements of cases, including but not limited to, Calunius’ largest Fund 1 investment in Rusoro Mining Limited’s successful claim against Venezuela. (iv) The four partners of Calunius will all be fully engaged in working with the Funds’ counterparties and their legal teams to ensure the successful conclusion of the remainder of the investment assets in the existing portfolios of the three Calunius Funds. (v) Calunius will remain a Funder Member of the ALF and each of its Funds will remain compliant with the capital adequacy requirements of the ALF on all cases under investment.

Calunius supports claims against Truck Cartelists in England & Wales

London, July 2018

Calunius is pleased to support an application for a collective proceedings order from the Competition Appeals Tribunal (CAT) in order to obtain compensation for as many cartel victims as possible. Please click on the headline to access the full Press Release.

Calunius supports Australian listed company in arbitration against Egypt

July 2018

As reported in GAR, Calunius is working with Australian investors with regard to a claim for compensation against the government of Egypt relating to investments into a tantalum mining project. For access to the article by clicking on the headline, a subscription to GAR is needed.

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